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Deeb Petrakis Blum & Murphy's Bankruptcy and Reorganization Practice Group represents creditor clients in complex chapter 11 and chapter 7 cases, as well as out-of-court debt restructurings across the country. The Firm's strong litigation background and sophisticated transactional understanding allows Deeb Petrakis to pursue tactics that are the most likely to result in the best possible outcome for our clients, in the most cost-effective manner.
The Firm's Bankruptcy and Reorganization lawyers have represented a variety of national institutional clients involved in a broad cross-section of industries, including telecommunications, airlines, pharmaceuticals, healthcare, information technology, leasing and finance, retail, trucking, and construction.
Representation of Creditors
The Firm routinely represents all types of secured and unsecured
creditors, including asset-based lenders and members of lender groups,
equipment lenders and lessors, and trade creditors in all aspects
of bankruptcy and out-of-court debt restructurings.
To help clients maximize recovery in bankruptcy and restructuring
scenarios, Deeb Petrakis brings clients extensive experience in negotiating
plans of reorganization, drafting and negotiating debtor-in-possession
financing documents and orders, as well as litigating and documenting
relief from stay and cash collateral issues. Our bankruptcy and reorganization
attorneys routinely negotiate and draft commercial debt restructuring
documents and counsel financial institutions on the purchase and
sale of distressed debt portfolios.
Representation of Trustees and Receivers
The Firm's lawyers also have significant experience representing bankruptcy trustees and state court receivers, both as lead counsel and special counsel retained to pursue complex litigation on behalf of the creditors of the estate. A combination of strong litigation skills and sound business judgment allows Deeb Petrakis to maximize recovery for the estate.
Bankruptcy Litigation
Clients rely on Deeb Petrakis for representation in various types
of bankruptcy litigation. The Firm routinely defends clients against
preference, fraudulent transfer and other avoidance actions brought
by debtors-in-possession, trustees or unsecured creditors' committees.
In addition, the Firm's attorneys have successfully sought appointment
of special examiners and chapter 11 trustees, pursued non-discharge
actions, and defended various lender liability matters.
Acquisition of Distressed Entities
Sellers, purchasers and investors seek the Firm's guidance regarding
the risks and advantages of distressed and insolvent businesses.
Deeb Petrakis assists its clients in the due diligence, negotiations
and subsequent document preparation involved in such transactions.
Counseling on Modern Trends in Bankruptcy
The Firm's Bankruptcy and Reorganization lawyers actively counsel
clients on the impact of the Bankruptcy Abuse, Prevention, and Consumer
Protection Act of 2005 (which generally took effect on October 17,
2005) on the world of bankruptcy and reorganization. Because the
new bankruptcy law has imposed more rigorous requirements and limitations
on the availability of bankruptcy protection to distressed companies,
more companies will seek to restructure their debt either before
filing a bankruptcy petition or outside of bankruptcy court. Our
advice helps clients overcome the obstacles and take advantage of
the opportunities presented in out-of-court workouts and pre-bankruptcy
planning, as well as bankruptcy proceedings under the new law.
Representative Matters Nationwide
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Allegheny
Hospital Education and Research Foundation (Bankr. W.D. Pa.);
Crouse Irving Hospital (Bankr. N.D.N.Y.) — Counsel
to members of unsecured creditors' committees |
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Ambassador Eyewear
Group, Inc. (Bankr. D. Del.); The Family Company of America,
L.C. (Bankr. E.D. Mo.); Exodus Communications, Inc. (Bankr.
D. Del.) — defense of trade creditors in avoidance
actions |
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C.F. Foods,
L.P. (Bankr.E.D. Pa.) — Special litigation counsel
to the chapter 7 trustee |
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Friede Goldman
Halter, Inc. (Bankr. S.D. Miss.); Classic Motor Lines, Inc.
(Bankr. M.D. Pa.) — Counsel to equipment lessors |
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Jetronic Industries,
Inc. (Bankr. E.D. Pa.) — Counsel to the chapter 7 trustee;
counsel to state receiver in PRSI, Inc. (Fla. Cir. Ct.) |
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Kleinert's,
Inc.(Bankr.S.D.N.Y.) — Counsel to purchaser of business
at § 363 sale |
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Medical One
ACEC, Inc. (Bankr. D.N.J.); Tomahawk Graphics, Inc. (Bankr.
E.D.Pa.) — counsel to asset-based lenders |
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Metal Transportation
Systems, Inc. (Bankr. N.D.N.Y.); Glen-Lew Leasing (Bankr.
M.D. Pa.);Wonder Chemical Corporation (Bankr. E.D. Pa.);
PHI Healthcare Management, Inc. (Bankr. C.D. Cal.); Aly-Wear,
Inc. (Bankr. E.D. Pa.) — Counsel to various secured
lenders |
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NorVergence,
Inc. (Bankr. D.N.J.) — Counsel to petitioning creditors
in involuntary chapter 11 bankruptcy filing; representation
of eleven (11) financial institutions in all aspects of bankruptcy
proceeding and adversary mass-action proceedings |
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Sure Fit, Inc.
(Bankr. S.D.N.Y.) — Counsel to secured creditor and
equipment lessor |
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U.S. Air, Inc.
(Bankr. E.D. Va.) — Counsel to trade creditor |
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Venture Lighting
International, Inc. (Bankr. N.D. Ill.) — Counsel to
member of pre-petition and post-petition asset-based bank
group |
The Firm's Bankruptcy and Reorganization lawyers have published numerous articles
and are often featured speakers at industry seminars on bankruptcy and debt restructuring
topics. Our attorneys are active members of the Turnaround Management Association,
the Risk Management Association, the American Bankruptcy Institute, the Equipment
Leasing Association, and the Eastern District of Pennsylvania Bankruptcy Conference.
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